MNI China Daily Summary: Wednesday, December 11

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Bailey says likely need to cut "over the coming quarter" maybe more than market pricing

BOE
  • Bailey says conditional on market rates, projections suggest inflation "could fall below the target towards the end of the forecast period."
  • "To make sure inflation remains around the target, neither too high nor too low, it is likely we will need to cut Bank Rate over the coming quarters and make monetary policy somewhat less restrictive over the period. Possibly more so than currently priced into market rates."
  • "But that judgment is one for the future." Then says there are no preconceptions, and will come to a new judgment at each meeting.
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